JOURNAL ARTICLE
Cite JOURNAL ARTICLE
Style
Format
Measures of the Output Gap in the Euro-Zone: An Empirical Assessment of Selected Methods
Vierteljahrshefte zur Wirtschaftsforschung, Vol. 70 (2001), Iss. 3 : pp. 310–330
16 Citations (CrossRef)
Additional Information
Article Details
Author Details
1OFCE, Paris.
Döpke, Jörg
Cited By
-
Does the ECB Rely on a Taylor Rule?: Comparing Ex-Post with Real Time Data
Belke, Ansgar Hubertus | Klose, JensSSRN Electronic Journal, Vol. (2009), Iss.
https://doi.org/10.2139/ssrn.1492743 [Citations: 7] -
An Algorithm of Decomposing the Trend and Cyclical Components of FDI Inflows: The Case of Ukraine
Moskalenko, Bogdan A. | Mitev, PavlinFinancial Markets, Institutions and Risks, Vol. 4 (2020), Iss. 3 P.95
https://doi.org/10.21272/fmir.4(3).95-101.2020 [Citations: 1] -
Projecting the Medium-Term: Outcomes and Errors for GDP Growth
Kappler, Marcus
SSRN Electronic Journal, Vol. (2007), Iss.
https://doi.org/10.2139/ssrn.1032841 [Citations: 1] -
Output Gap as Indicator of Inflation - Case for Czech Economy
Kloudová, Dana
Politická ekonomie, Vol. 61 (2013), Iss. 5 P.639
https://doi.org/10.18267/j.polek.921 [Citations: 2] -
Exchange Rate Pass Through in Ghana
Loloh, Francis White
SSRN Electronic Journal, Vol. (2014), Iss.
https://doi.org/10.2139/ssrn.2412128 [Citations: 5] -
Does the ECB Rely on a Taylor Rule During the Financial Crisis? Comparing Ex-post and Real Time Data with Real Time Forecasts
Belke, Ansgar | Klose, JensEconomic Analysis and Policy, Vol. 41 (2011), Iss. 2 P.147
https://doi.org/10.1016/S0313-5926(11)50017-7 [Citations: 17] -
Réflexions et suggestions autour du concept d’output gap
Charles, Sébastien | Dallery, Thomas | Marie, JonathanInterventions économiques, Vol. (2018), Iss. 60
https://doi.org/10.4000/interventionseconomiques.4710 [Citations: 1] -
Analyzing Private Sector Credit Growth in Ghana
Loloh, Francis White | Amoah, BenjaminSSRN Electronic Journal, Vol. (2014), Iss.
https://doi.org/10.2139/ssrn.2486497 [Citations: 2] -
Factors of Economic Growth in 2011–2021 and Their Reflection in Macroeconomic Models
Kuranov, G. O. | Strizhkova, L. A. | Tishina, L. I. | Kuranov, A. G.Voprosy statistiki, Vol. 29 (2022), Iss. 3 P.5
https://doi.org/10.34023/2313-6383-2022-29-3-5-25 [Citations: 2] -
Can the Taylor Rule be a Good Guidance for Policy? The Case of 2001-2008 Real Estate Bubble
Machaj, Mateusz
Prague Economic Papers, Vol. 25 (2016), Iss. 4 P.381
https://doi.org/10.18267/j.pep.573 [Citations: 6] -
Estimation of potential product and output gap in slovak conditions
Zimková, Emília | Barochovský, JaroslavPolitická ekonomie, Vol. 55 (2007), Iss. 4 P.473
https://doi.org/10.18267/j.polek.609 [Citations: 11] -
Les performances économiques de la Suède
Touzé, Vincent
Revue de l'OFCE, Vol. n o 100 (2007), Iss. 1 P.31
https://doi.org/10.3917/reof.100.0031 [Citations: 3] -
Impact de la crise sur la croissance potentielle
Chetouane, Mabrouk | Lemoine, Matthieu | de la Serve, Marie-ElisabethRevue de l'OFCE, Vol. n° 116 (2011), Iss. 1 P.89
https://doi.org/10.3917/reof.116.0089 [Citations: 0] -
Impact of the Crisis on Potential Growth: An Approach Based on Unobserved Component Models (in French)
Lemoine, Matthieu | de la serve, Marie-Elisabeth | Chetouane, MabrouckSSRN Electronic Journal, Vol. (2011), Iss.
https://doi.org/10.2139/ssrn.1884088 [Citations: 0] -
The Missing Cycle in the HP Filter and the Measurement of Cyclically-Adjusted Budget Balances
Mohr, Matthias F.
SSRN Electronic Journal, Vol. (2006), Iss.
https://doi.org/10.2139/ssrn.2005022 [Citations: 3] -
Comparison of HP Filter and the Hamilton’s Regression
Dritsaki, Melina | Dritsaki, ChaidoMathematics, Vol. 10 (2022), Iss. 8 P.1237
https://doi.org/10.3390/math10081237 [Citations: 4]
Abstract
The paper discusses some widely used methods for estimating output gaps based on aggregated data for the Euro-zone. Though these methods exhibit some common features, an empirical comparison demonstrates that the various techniques differ substantially. In particular, the correlation of output gaps calculated with different methods is generally low, the methods imply different turning points, and the estimated level of the output gap differs greatly. Moreover, tests suggest that some of the methods commonly used have only limited information content for inflation forecasting in the Euro-zone. Conclusions for business cycle analysis and economic policy are offered.
Der Aufsatz untersucht einige populäre Methoden zur Messung des Output-Gaps auf der Basis von aggregierten Daten für die Euro-Zone. Obwohl die Methoden einige wichtige gemeinsame Eigenschaften aufweisen, zeigen auch sie erhebliche Unterschiede, insbesondere ist die Korrelation zwischen Output-Gap-Schätzungen auf Basis verschiedener Methoden niedrig, die Ansätze implizieren differierende Wendepunkte, und das Niveau des Output-Gaps variiert stark. Empirische Untersuchungen zeigen zudem, dass der Informationsgehalt der Gap-Variablen für die Prognose der Inflationsrate nur sehr klein ist. Einigen Schlussfolgerungen hinsichtlich der Nützlichkeit von Output-Gap-Schätzungen und für die Wirtschaftspolitik werden gezogen.